Cryptocurrency analyst says he is preparing for a massive ‘revenge pump’ for Dogecoin (DOGE) against Bitcoin (BTC).
Dogecoin will gain value against BTC, according to analyst
Bluntz (Smart Contracter), known for his accurate predictions, has predicted a massive price increase for the meme coin Dogecoin (DOGE) against the flagship cryptocurrency Bitcoin (BTC). You can review the successful forecasts predicted by the analyst by referring to this article. According to Bluntz, DOGE/BTC is “probably gearing up for a 100% or more revenge pump.”
This bullish outlook on Dogecoin may come as a surprise to some in the crypto community, who see the prank currency as a fad. The meme-inspired token continues to be among the top 10 cryptocurrencies with a market capitalization approaching $13 billion.
Bluntz seems confident that the Dogecoin price will continue to rise and states that not owning a stake in the currency would be ‘negligent’. This sentiment is shared by some other traders who see Dogecoin’s rapid growth as a sign of things to come.
DOGE parity broken
In a separate tweet, the analyst pointed out that the DOGE/USD pair was also broken. Twitter is seeking regulatory licenses to launch a payments platform as part of CEO Elon Musk’s plan for a diversified revenue stream and ‘everything app’.
The announcement caused the price of Dogecoin (DOGE) to increase by 7%. While only fiat payments will be available from the start, Twitter plans to use cryptocurrencies at a later date.
The social media platform recently appointed a small team to determine the architecture of the platform. However, the transition to payments faces competition and high regulatory scrutiny.
The price of Dogecoin has been sensitive to Musk’s actions and statements, which rose in October following Musk’s Twitter deal and was hit in November after Twitter scrapped its crypto wallet plans.
DOGE spikes amid market crash
It’s a very bearish day in which prices appear as a coordinated and comprehensive sell-off across the broader digital currency ecosystem. Despite the outlook, Dogecoin (DOGE) is seeing its price revive and cryptocoin.comAs we mentioned, DOGE reached $0.09384 with an increase of 6.03%.
Dogecoin’s departure from the overall market seems highly encouraged as it is one of the worst earners according to the weekly chart shown below.
A highly volatile cryptocurrency, Dogecoin is very sensitive to news, whether positive or negative. The current bullish run stems from the feeling that Twitter, the social media platform owned by Elon Musk, is on track to progress with the payment move. As hinted earlier, Elon Musk has reiterated his plans to integrate digital currencies.
While the payment feature was ridiculed a few months ago when Musk was in the process of acquiring the microblogging site, Financial Times (FT) sources revealed that a small team led by Esther Crawford was tasked with developing the product.
